Will 88 Energy (EEENF) stock Rebound After The Recent Consolidation

The 88 Energy Ltd’s (OTC:EEENF) stock is now in consolidation mode after having gone through considerable volatility in recent weeks. Last week the company managed to recover strongly from its slump and rallied by 50% after an operational update.

Will 88 Energy (EEENF) stock Rebound After The Recent Consolidation

Earlier in April, the 88 Energy stock has tanked sharply after it announced that it suffered from a power outage due to an equipment failure at two of its highest prospect zones.

However, last Tuesday, the company announced positive results from the drilling activities that it had undertaken in Alaska. This particular update had resulted in considerable enthusiasm among investors and led to a strong rally in the stock.

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More importantly, the company also announced that the cutting of sidewall cores has also started at one of the high prospect areas. Considering the recovery made by the stock, it might be a good idea for investors to start taking a greater interest in the EEENF stock.

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life